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Mar 25, 2013
 |  BioCentury  |  Strategy

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Next steps for NPS after regaining global rights to Gattex, Natpara

Now that NPS Pharmaceuticals Inc. has regained worldwide rights to two Orphan drugs at a discount, the biotech must focus on building its global footprint.

Last week, Takeda Pharmaceutical Co. Ltd. returned ex-North American rights to NPS for Gattex/Revestive teduglutide and Natpara/Preotact recombinant human parathyroid hormone 1-84 (PTH). Takeda, which gained the drugs as part of its 2011 acquisition of Nycomed, will receive 6.1 million NPS shares up front. The shares are valued at $54.9 million based on NPS's closing price of $9.04 on March 18, the day before the deal was announced.

Takeda is eligible for a one-time $30 million milestone after the first calendar year in which combined worldwide net sales of the drugs exceed $750 million. NPS can choose to award the milestone in cash, stock or a combination of the two.

Gattex is approved in the U.S. and Europe to treat short bowel syndrome (SBS) and has Orphan Drug status in both territories.

Natpara is in Phase III testing in the U.S. for hypothyroidism. It has Orphan Drug designation in the U.S. for the indication, and NPS plans to submit a BLA to FDA in 2H13. It is approved in Europe to treat postmenopausal osteoporosis; however, NPS withdrew the...

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